August 15, 2019
Apartment investment and management company Bell Partners acquired Overlook Pointe, a 249-unit apartment community in Pompano Beach. The sales price was reported by multiple media outlets as $58.5 million. M-M Properties of Houston was the seller. The property will be renamed Bell Lighthouse Pointe, and be managed by Bell.
Located less than three miles from the beach, the community is on North Federal Highway and consists of one-, two- and three-bedroom apartment units. Features include stainless steel appliances, granite countertops and in-unit washer/dryers. Amenities include a resort-style swimming pool, BBQ area, fitness center and a coffee bar.
“Greater Fort Lauderdale is experiencing strong population growth and an expansion of job opportunities, making the area highly attractive to both residents and investors,” said Kary Nordholz, senior vice president of investments at Bell Partners. “The region’s strong economic development is driven by its favorable business and tax climate, as well as the high quality of life it offers residents. This growth has led to higher demand for multifamily housing.”
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Tags: Apartments & Multifamily